Portmeanteau of 'elite' and 'retard'. A person who takes an unusual amount of pride in being stupid. Kind of like a classhole, except an elitard is not limited to physical assholishness. The elitard takes special pride in his or her wordy, snide, commentary along with their classholish shenanigans. Occasional elitardedness on the level of class clown is welcome, although, when persistent and out of control, is usually frowned upon and will lead to you getting your ass kicked by everyone you talk to.

"Did you hear the joke Chris made about Ryan's mom?"

"Yeah, his mom just died. Chris is such an elitard. Let's beat him up."